Monday, April 4, 2011

Ignatieff Would Remove Oil Sands Tax Breaks

A Liberal government would immediately cancel the Accelerated Capital Cost Allowance for oil sands investment. This is expected to generate nearly $500 million in additional revenue for the federal government over the next two years.

In the platform released yesterday, the Liberals also announced a comprehensive package of other environmental initiatives, well summarized over at Environmental Defense.

Even Harper had intentions of eliminating the ACCA by 2015, as few people, even in Alberta, are clamouring for more tax breaks for the oil industry.

The Liberal green initiative to get the roughest ride from Conservatives and Albertans will no doubt be the cap and trade system announced yesterday by Ignatieff.

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